MV Oil Trust Reports Earnings Results for the Fourth Quarter Ended December 31, 2012; Reports Sales Volume for the Fourth Quarter Ended December 31, 2012; Declares Fourth Quarterly Distribution Payable on January 25, 2013
January 04, 2013 at 04:03 pm
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MV Oil Trust reported earnings results for the fourth quarter ended December 31, 2012. For the quarter, the company reported gross proceeds of $18,216,161 and net profit of $10,031,621 and profit applicable to Trust's interest of $8,025,297. Net cash proceeds available for distribution were $7,820,000.
The company reported volume of 219,869 BOE for the fourth quarter ended December 31, 2012.
The company announced distribution of net profits for the fourth quarterly payment period ended December 31, 2012. Unit holders of record on January 15, 2013 will receive a distribution amounting to $7,820,000 or $0.680 per unit payable on January 25, 2013.
MV Oil Trust (the Trust) is a statutory trust. The business and affairs of the trust are managed by The Bank of New York Mellon Trust Company, N.A., (the Trustee). The Trust acquire and holds a term net profits interest, which include interest in underlying properties consisting of MV Partnersâ net interests in all of its oil and natural gas properties located in the Mid-Continent region in the states of Kansas and Colorado (the underlying properties). The underlying properties located in the El Dorado area are operated on behalf of MV Partners, LLC by Vess Oil Corporation and are located in the include El Dorado, Augusta and Valley Center Fields. These oil and gas properties include approximately 850 producing oil and gas wells. The El Dorado Field is located atop the Nemaha Ridge in Central Butler County. The Augusta Field is on a trend similar to the nearby El Dorado Field and strikes northeast parallel to the Nemaha Ridge.
MV Oil Trust Reports Earnings Results for the Fourth Quarter Ended December 31, 2012; Reports Sales Volume for the Fourth Quarter Ended December 31, 2012; Declares Fourth Quarterly Distribution Payable on January 25, 2013
MV OIL TRUST 
